Three-Unit Residential Income
56 Cohasset St Worcester, MA 01604
56 Cohasset St, Worcester, MA, 01604
$985,000
For Sale
$985,000
Three-unit property with gut renovation completed in 2019 and a detached two-car garage plus off-street parking.
Property Size4,170 SF
Price / SF$236.21
Days on Market111
Property Features for 56 Cohasset St
General Information
- Standard status
- Active
- Size
- 4,170 SF
- Property subtype
- 3 Family
Building Details
- Year Built
- 1910
Listing agency
BA Property & Lifestyle Advisors
(508) 509-8867
Listed by
Michael Barbera
(508) 509-8867
Source
Lockandkeyre
Added: Apr 3 Updated: Jul 21 at 6:16PM Checked: Jul 21 at 6:16PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of BA Property & Lifestyle Advisors
Investment Insights
Based on property information with market context.
This three-unit residential income building offers oversized four-bedroom, two-bath layouts in each of its three units. The property was fully gut renovated in 2019, including updated systems, kitchens, baths, and comprehensive insulation focused on energy efficiency. The current setup includes two leased units and one unit occupied tenant-at-will, which can provide flexibility for future rent growth or owner occupancy.
Located at 56 Cohasset St in Worcester’s East Side, the property offers convenient access to Shrewsbury Street, I-290, and UMass Memorial Medical Center. The site also includes a detached two-car garage and additional off-street parking, supporting straightforward resident access and day-to-day convenience.
Offered as a stabilized, turn-key investment, the property notes optional and transferable professional property management in place.
Located at 56 Cohasset St in Worcester’s East Side, the property offers convenient access to Shrewsbury Street, I-290, and UMass Memorial Medical Center. The site also includes a detached two-car garage and additional off-street parking, supporting straightforward resident access and day-to-day convenience.
Offered as a stabilized, turn-key investment, the property notes optional and transferable professional property management in place.
Key Highlights
- Three‑unit building (built 1910) with 4 bed / 2 bath oversized layouts
- Full gut renovation completed in 2019, including updated systems, kitchens, baths, and comprehensive insulation
- Two units are leased and one unit is occupied tenant‑at‑will, offering flexibility for rent growth or owner use
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $92.6k | $22.20 |
| − Vacancy | −$5.1k | −$1.22 |
| EGI | $87.5k | $20.98 |
| − OpEx | −$26.2k | −$6.29 |
| NOI | $61.2k | $14.69 |
4,170 SF · lease $22.20/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$874.8K
$765.5K – $1.02M
NOI $61,238 @ 7.0% cap · market cap 6.22%
Second Best
Apartment 5plus
$803.1K
$702.7K – $936.9K
NOI $56,214 @ 7.0% cap · market cap 5.71%
Theoretical Best
Office A
$1.39M
$1.22M – $1.62M
NOI $97,430 @ 7.0% cap · market cap 9.89%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Three-unit property with gut renovation completed in 2019 and a detached two-car garage plus off-street parking.
Where is this triplex located?
The property is located at 56 Cohasset St Worcester, MA.
What is the asking price?
The asking price for this property is $985,000.
What are key features of this property?
This property features: Three‑unit building (built 1910) with 4 bed / 2 bath oversized layouts; Full gut renovation completed in 2019, including updated systems, kitchens, baths, and comprehensive insulation; Two units are leased and one unit is occupied tenant‑at‑will, offering flexibility for rent growth or owner use
